There is an excessive indebtedness of many countries to the public and private international financial institutions, and linked with this, a foreign dependency amounting to virtual total subordination to the international financial system and the forces behind it.
Indebtedness has now reached such dimensions (US$ 810 billion at the end of 1983), that the mechanism of debt service now drains the bulk of the economic surplus (that is, the portion of national income otherwise available for net investment) of many countries.